$118,800 Mortgage for 30 Years

What is the monthly payment of a 118,800 dollar loan?
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Loan Tables for a $118,800 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 119k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $118,800 home? What if I pay a bigger down payment? Make sure to think about maintenance costs, taxes, insurance, and other costs.

Use this to calculate a loan for anything, such as a vehicle, business loan, home, RV, motor home, mobile home, manufactured home, real estate, land, vacation property, education, or any type of debt.
Interest Rate 30 Year
118,800 at 2.01%$439.70
118,800 at 2.02%$440.30
118,800 at 2.03%$440.89
118,800 at 2.04%$441.49
118,800 at 2.05%$442.08
118,800 at 2.06%$442.68
118,800 at 2.07%$443.28
118,800 at 2.08%$443.88
118,800 at 2.09%$444.47
118,800 at 2.1%$445.07
118,800 at 2.11%$445.67
118,800 at 2.12%$446.27
118,800 at 2.13%$446.87
118,800 at 2.14%$447.47
118,800 at 2.15%$448.07
118,800 at 2.16%$448.67
118,800 at 2.17%$449.28
118,800 at 2.18%$449.88
118,800 at 2.19%$450.48
118,800 at 2.2%$451.08
118,800 at 2.21%$451.69
118,800 at 2.22%$452.29
118,800 at 2.23%$452.90
118,800 at 2.24%$453.50
118,800 at 2.25%$454.11
118,800 at 2.26%$454.71
118,800 at 2.27%$455.32
118,800 at 2.28%$455.93
118,800 at 2.29%$456.54
118,800 at 2.3%$457.14
118,800 at 2.31%$457.75
118,800 at 2.32%$458.36
118,800 at 2.33%$458.97
118,800 at 2.34%$459.58
118,800 at 2.35%$460.19
118,800 at 2.36%$460.80
118,800 at 2.37%$461.41
118,800 at 2.38%$462.03
118,800 at 2.39%$462.64
118,800 at 2.4%$463.25
118,800 at 2.41%$463.86
118,800 at 2.42%$464.48
118,800 at 2.43%$465.09
118,800 at 2.44%$465.71
118,800 at 2.45%$466.32
118,800 at 2.46%$466.94
118,800 at 2.47%$467.55
118,800 at 2.48%$468.17
118,800 at 2.49%$468.79
118,800 at 2.5%$469.40
118,800 at 2.51%$470.02
118,800 at 2.52%$470.64
118,800 at 2.53%$471.26
118,800 at 2.54%$471.88
118,800 at 2.55%$472.50
118,800 at 2.56%$473.12
118,800 at 2.57%$473.74
118,800 at 2.58%$474.36
118,800 at 2.59%$474.98
118,800 at 2.6%$475.60
118,800 at 2.61%$476.23
118,800 at 2.62%$476.85
118,800 at 2.63%$477.47
118,800 at 2.64%$478.10
118,800 at 2.65%$478.72
118,800 at 2.66%$479.35
118,800 at 2.67%$479.97
118,800 at 2.68%$480.60
118,800 at 2.69%$481.22
118,800 at 2.7%$481.85
118,800 at 2.71%$482.48
118,800 at 2.72%$483.10
118,800 at 2.73%$483.73
118,800 at 2.74%$484.36
118,800 at 2.75%$484.99
118,800 at 2.76%$485.62
118,800 at 2.77%$486.25
118,800 at 2.78%$486.88
118,800 at 2.79%$487.51
118,800 at 2.8%$488.14
118,800 at 2.81%$488.77
118,800 at 2.82%$489.41
118,800 at 2.83%$490.04
118,800 at 2.84%$490.67
118,800 at 2.85%$491.31
118,800 at 2.86%$491.94
118,800 at 2.87%$492.57
118,800 at 2.88%$493.21
118,800 at 2.89%$493.85
118,800 at 2.9%$494.48
118,800 at 2.91%$495.12
118,800 at 2.92%$495.75
118,800 at 2.93%$496.39
118,800 at 2.94%$497.03
118,800 at 2.95%$497.67
118,800 at 2.96%$498.31
118,800 at 2.97%$498.95
118,800 at 2.98%$499.59
118,800 at 2.99%$500.23
118,800 at 3%$500.87
118,800 at 3.01%$501.51
118,800 at 3.02%$502.15
118,800 at 3.03%$502.79
118,800 at 3.04%$503.43
118,800 at 3.05%$504.07
118,800 at 3.06%$504.72
118,800 at 3.07%$505.36
118,800 at 3.08%$506.01
118,800 at 3.09%$506.65
118,800 at 3.1%$507.30
118,800 at 3.11%$507.94
118,800 at 3.12%$508.59
118,800 at 3.13%$509.23
118,800 at 3.14%$509.88
118,800 at 3.15%$510.53
118,800 at 3.16%$511.18
118,800 at 3.17%$511.82
118,800 at 3.18%$512.47
118,800 at 3.19%$513.12
118,800 at 3.2%$513.77
118,800 at 3.21%$514.42
118,800 at 3.22%$515.07
118,800 at 3.23%$515.72
118,800 at 3.24%$516.37
118,800 at 3.25%$517.03
118,800 at 3.26%$517.68
118,800 at 3.27%$518.33
118,800 at 3.28%$518.98
118,800 at 3.29%$519.64
118,800 at 3.3%$520.29
118,800 at 3.31%$520.95
118,800 at 3.32%$521.60
118,800 at 3.33%$522.26
118,800 at 3.34%$522.91
118,800 at 3.35%$523.57
118,800 at 3.36%$524.22
118,800 at 3.37%$524.88
118,800 at 3.38%$525.54
118,800 at 3.39%$526.20
118,800 at 3.4%$526.86
118,800 at 3.41%$527.51
118,800 at 3.42%$528.17
118,800 at 3.43%$528.83
118,800 at 3.44%$529.49
118,800 at 3.45%$530.15
118,800 at 3.46%$530.82
118,800 at 3.47%$531.48
118,800 at 3.48%$532.14
118,800 at 3.49%$532.80
118,800 at 3.5%$533.47
Interest Rate 30 Year
118,800 at 3.51%$534.13
118,800 at 3.52%$534.79
118,800 at 3.53%$535.46
118,800 at 3.54%$536.12
118,800 at 3.55%$536.79
118,800 at 3.56%$537.45
118,800 at 3.57%$538.12
118,800 at 3.58%$538.78
118,800 at 3.59%$539.45
118,800 at 3.6%$540.12
118,800 at 3.61%$540.79
118,800 at 3.62%$541.45
118,800 at 3.63%$542.12
118,800 at 3.64%$542.79
118,800 at 3.65%$543.46
118,800 at 3.66%$544.13
118,800 at 3.67%$544.80
118,800 at 3.68%$545.47
118,800 at 3.69%$546.14
118,800 at 3.7%$546.82
118,800 at 3.71%$547.49
118,800 at 3.72%$548.16
118,800 at 3.73%$548.83
118,800 at 3.74%$549.51
118,800 at 3.75%$550.18
118,800 at 3.76%$550.86
118,800 at 3.77%$551.53
118,800 at 3.78%$552.21
118,800 at 3.79%$552.88
118,800 at 3.8%$553.56
118,800 at 3.81%$554.23
118,800 at 3.82%$554.91
118,800 at 3.83%$555.59
118,800 at 3.84%$556.27
118,800 at 3.85%$556.94
118,800 at 3.86%$557.62
118,800 at 3.87%$558.30
118,800 at 3.88%$558.98
118,800 at 3.89%$559.66
118,800 at 3.9%$560.34
118,800 at 3.91%$561.02
118,800 at 3.92%$561.70
118,800 at 3.93%$562.39
118,800 at 3.94%$563.07
118,800 at 3.95%$563.75
118,800 at 3.96%$564.43
118,800 at 3.97%$565.12
118,800 at 3.98%$565.80
118,800 at 3.99%$566.48
118,800 at 4%$567.17
118,800 at 4.01%$567.85
118,800 at 4.02%$568.54
118,800 at 4.03%$569.23
118,800 at 4.04%$569.91
118,800 at 4.05%$570.60
118,800 at 4.06%$571.29
118,800 at 4.07%$571.97
118,800 at 4.08%$572.66
118,800 at 4.09%$573.35
118,800 at 4.1%$574.04
118,800 at 4.11%$574.73
118,800 at 4.12%$575.42
118,800 at 4.13%$576.11
118,800 at 4.14%$576.80
118,800 at 4.15%$577.49
118,800 at 4.16%$578.18
118,800 at 4.17%$578.87
118,800 at 4.18%$579.57
118,800 at 4.19%$580.26
118,800 at 4.2%$580.95
118,800 at 4.21%$581.65
118,800 at 4.22%$582.34
118,800 at 4.23%$583.03
118,800 at 4.24%$583.73
118,800 at 4.25%$584.42
118,800 at 4.26%$585.12
118,800 at 4.27%$585.82
118,800 at 4.28%$586.51
118,800 at 4.29%$587.21
118,800 at 4.3%$587.91
118,800 at 4.31%$588.61
118,800 at 4.32%$589.30
118,800 at 4.33%$590.00
118,800 at 4.34%$590.70
118,800 at 4.35%$591.40
118,800 at 4.36%$592.10
118,800 at 4.37%$592.80
118,800 at 4.38%$593.50
118,800 at 4.39%$594.20
118,800 at 4.4%$594.90
118,800 at 4.41%$595.61
118,800 at 4.42%$596.31
118,800 at 4.43%$597.01
118,800 at 4.44%$597.71
118,800 at 4.45%$598.42
118,800 at 4.46%$599.12
118,800 at 4.47%$599.83
118,800 at 4.48%$600.53
118,800 at 4.49%$601.24
118,800 at 4.5%$601.94
118,800 at 4.51%$602.65
118,800 at 4.52%$603.35
118,800 at 4.53%$604.06
118,800 at 4.54%$604.77
118,800 at 4.55%$605.48
118,800 at 4.56%$606.18
118,800 at 4.57%$606.89
118,800 at 4.58%$607.60
118,800 at 4.59%$608.31
118,800 at 4.6%$609.02
118,800 at 4.61%$609.73
118,800 at 4.62%$610.44
118,800 at 4.63%$611.15
118,800 at 4.64%$611.86
118,800 at 4.65%$612.58
118,800 at 4.66%$613.29
118,800 at 4.67%$614.00
118,800 at 4.68%$614.71
118,800 at 4.69%$615.43
118,800 at 4.7%$616.14
118,800 at 4.71%$616.86
118,800 at 4.72%$617.57
118,800 at 4.73%$618.29
118,800 at 4.74%$619.00
118,800 at 4.75%$619.72
118,800 at 4.76%$620.43
118,800 at 4.77%$621.15
118,800 at 4.78%$621.87
118,800 at 4.79%$622.58
118,800 at 4.8%$623.30
118,800 at 4.81%$624.02
118,800 at 4.82%$624.74
118,800 at 4.83%$625.46
118,800 at 4.84%$626.18
118,800 at 4.85%$626.90
118,800 at 4.86%$627.62
118,800 at 4.87%$628.34
118,800 at 4.88%$629.06
118,800 at 4.89%$629.78
118,800 at 4.9%$630.50
118,800 at 4.91%$631.23
118,800 at 4.92%$631.95
118,800 at 4.93%$632.67
118,800 at 4.94%$633.39
118,800 at 4.95%$634.12
118,800 at 4.96%$634.84
118,800 at 4.97%$635.57
118,800 at 4.98%$636.29
118,800 at 4.99%$637.02
118,800 at 5%$637.74
Interest Rate 30 Year
118,800 at 5.01%$638.47
118,800 at 5.02%$639.20
118,800 at 5.03%$639.92
118,800 at 5.04%$640.65
118,800 at 5.05%$641.38
118,800 at 5.06%$642.11
118,800 at 5.07%$642.84
118,800 at 5.08%$643.57
118,800 at 5.09%$644.29
118,800 at 5.1%$645.02
118,800 at 5.11%$645.75
118,800 at 5.12%$646.49
118,800 at 5.13%$647.22
118,800 at 5.14%$647.95
118,800 at 5.15%$648.68
118,800 at 5.16%$649.41
118,800 at 5.17%$650.14
118,800 at 5.18%$650.88
118,800 at 5.19%$651.61
118,800 at 5.2%$652.34
118,800 at 5.21%$653.08
118,800 at 5.22%$653.81
118,800 at 5.23%$654.55
118,800 at 5.24%$655.28
118,800 at 5.25%$656.02
118,800 at 5.26%$656.75
118,800 at 5.27%$657.49
118,800 at 5.28%$658.23
118,800 at 5.29%$658.96
118,800 at 5.3%$659.70
118,800 at 5.31%$660.44
118,800 at 5.32%$661.18
118,800 at 5.33%$661.92
118,800 at 5.34%$662.66
118,800 at 5.35%$663.40
118,800 at 5.36%$664.14
118,800 at 5.37%$664.88
118,800 at 5.38%$665.62
118,800 at 5.39%$666.36
118,800 at 5.4%$667.10
118,800 at 5.41%$667.84
118,800 at 5.42%$668.58
118,800 at 5.43%$669.33
118,800 at 5.44%$670.07
118,800 at 5.45%$670.81
118,800 at 5.46%$671.55
118,800 at 5.47%$672.30
118,800 at 5.48%$673.04
118,800 at 5.49%$673.79
118,800 at 5.5%$674.53
118,800 at 5.51%$675.28
118,800 at 5.52%$676.02
118,800 at 5.53%$676.77
118,800 at 5.54%$677.52
118,800 at 5.55%$678.26
118,800 at 5.56%$679.01
118,800 at 5.57%$679.76
118,800 at 5.58%$680.51
118,800 at 5.59%$681.26
118,800 at 5.6%$682.01
118,800 at 5.61%$682.76
118,800 at 5.62%$683.50
118,800 at 5.63%$684.25
118,800 at 5.64%$685.01
118,800 at 5.65%$685.76
118,800 at 5.66%$686.51
118,800 at 5.67%$687.26
118,800 at 5.68%$688.01
118,800 at 5.69%$688.76
118,800 at 5.7%$689.52
118,800 at 5.71%$690.27
118,800 at 5.72%$691.02
118,800 at 5.73%$691.78
118,800 at 5.74%$692.53
118,800 at 5.75%$693.28
118,800 at 5.76%$694.04
118,800 at 5.77%$694.79
118,800 at 5.78%$695.55
118,800 at 5.79%$696.31
118,800 at 5.8%$697.06
118,800 at 5.81%$697.82
118,800 at 5.82%$698.58
118,800 at 5.83%$699.33
118,800 at 5.84%$700.09
118,800 at 5.85%$700.85
118,800 at 5.86%$701.61
118,800 at 5.87%$702.37
118,800 at 5.88%$703.13
118,800 at 5.89%$703.89
118,800 at 5.9%$704.65
118,800 at 5.91%$705.41
118,800 at 5.92%$706.17
118,800 at 5.93%$706.93
118,800 at 5.94%$707.69
118,800 at 5.95%$708.45
118,800 at 5.96%$709.21
118,800 at 5.97%$709.98
118,800 at 5.98%$710.74
118,800 at 5.99%$711.50
118,800 at 6%$712.27
118,800 at 6.01%$713.03
118,800 at 6.02%$713.79
118,800 at 6.03%$714.56
118,800 at 6.04%$715.32
118,800 at 6.05%$716.09
118,800 at 6.06%$716.86
118,800 at 6.07%$717.62
118,800 at 6.08%$718.39
118,800 at 6.09%$719.15
118,800 at 6.1%$719.92
118,800 at 6.11%$720.69
118,800 at 6.12%$721.46
118,800 at 6.13%$722.23
118,800 at 6.14%$722.99
118,800 at 6.15%$723.76
118,800 at 6.16%$724.53
118,800 at 6.17%$725.30
118,800 at 6.18%$726.07
118,800 at 6.19%$726.84
118,800 at 6.2%$727.61
118,800 at 6.21%$728.38
118,800 at 6.22%$729.16
118,800 at 6.23%$729.93
118,800 at 6.24%$730.70
118,800 at 6.25%$731.47
118,800 at 6.26%$732.24
118,800 at 6.27%$733.02
118,800 at 6.28%$733.79
118,800 at 6.29%$734.57
118,800 at 6.3%$735.34
118,800 at 6.31%$736.11
118,800 at 6.32%$736.89
118,800 at 6.33%$737.66
118,800 at 6.34%$738.44
118,800 at 6.35%$739.22
118,800 at 6.36%$739.99
118,800 at 6.37%$740.77
118,800 at 6.38%$741.55
118,800 at 6.39%$742.32
118,800 at 6.4%$743.10
118,800 at 6.41%$743.88
118,800 at 6.42%$744.66
118,800 at 6.43%$745.44
118,800 at 6.44%$746.22
118,800 at 6.45%$746.99
118,800 at 6.46%$747.77
118,800 at 6.47%$748.55
118,800 at 6.48%$749.33
118,800 at 6.49%$750.12
118,800 at 6.5%$750.90
Interest Rate 30 Year
118,800 at 6.51%$751.68
118,800 at 6.52%$752.46
118,800 at 6.53%$753.24
118,800 at 6.54%$754.02
118,800 at 6.55%$754.81
118,800 at 6.56%$755.59
118,800 at 6.57%$756.37
118,800 at 6.58%$757.16
118,800 at 6.59%$757.94
118,800 at 6.6%$758.73
118,800 at 6.61%$759.51
118,800 at 6.62%$760.30
118,800 at 6.63%$761.08
118,800 at 6.64%$761.87
118,800 at 6.65%$762.65
118,800 at 6.66%$763.44
118,800 at 6.67%$764.23
118,800 at 6.68%$765.01
118,800 at 6.69%$765.80
118,800 at 6.7%$766.59
118,800 at 6.71%$767.38
118,800 at 6.72%$768.17
118,800 at 6.73%$768.96
118,800 at 6.74%$769.75
118,800 at 6.75%$770.53
118,800 at 6.76%$771.32
118,800 at 6.77%$772.11
118,800 at 6.78%$772.91
118,800 at 6.79%$773.70
118,800 at 6.8%$774.49
118,800 at 6.81%$775.28
118,800 at 6.82%$776.07
118,800 at 6.83%$776.86
118,800 at 6.84%$777.66
118,800 at 6.85%$778.45
118,800 at 6.86%$779.24
118,800 at 6.87%$780.03
118,800 at 6.88%$780.83
118,800 at 6.89%$781.62
118,800 at 6.9%$782.42
118,800 at 6.91%$783.21
118,800 at 6.92%$784.01
118,800 at 6.93%$784.80
118,800 at 6.94%$785.60
118,800 at 6.95%$786.39
118,800 at 6.96%$787.19
118,800 at 6.97%$787.99
118,800 at 6.98%$788.78
118,800 at 6.99%$789.58
118,800 at 7%$790.38
118,800 at 7.01%$791.18
118,800 at 7.02%$791.98
118,800 at 7.03%$792.77
118,800 at 7.04%$793.57
118,800 at 7.05%$794.37
118,800 at 7.06%$795.17
118,800 at 7.07%$795.97
118,800 at 7.08%$796.77
118,800 at 7.09%$797.57
118,800 at 7.1%$798.37
118,800 at 7.11%$799.18
118,800 at 7.12%$799.98
118,800 at 7.13%$800.78
118,800 at 7.14%$801.58
118,800 at 7.15%$802.38
118,800 at 7.16%$803.19
118,800 at 7.17%$803.99
118,800 at 7.18%$804.79
118,800 at 7.19%$805.60
118,800 at 7.2%$806.40
118,800 at 7.21%$807.20
118,800 at 7.22%$808.01
118,800 at 7.23%$808.81
118,800 at 7.24%$809.62
118,800 at 7.25%$810.43
118,800 at 7.26%$811.23
118,800 at 7.27%$812.04
118,800 at 7.28%$812.84
118,800 at 7.29%$813.65
118,800 at 7.3%$814.46
118,800 at 7.31%$815.27
118,800 at 7.32%$816.07
118,800 at 7.33%$816.88
118,800 at 7.34%$817.69
118,800 at 7.35%$818.50
118,800 at 7.36%$819.31
118,800 at 7.37%$820.12
118,800 at 7.38%$820.93
118,800 at 7.39%$821.74
118,800 at 7.4%$822.55
118,800 at 7.41%$823.36
118,800 at 7.42%$824.17
118,800 at 7.43%$824.98
118,800 at 7.44%$825.79
118,800 at 7.45%$826.60
118,800 at 7.46%$827.42
118,800 at 7.47%$828.23
118,800 at 7.48%$829.04
118,800 at 7.49%$829.85
118,800 at 7.5%$830.67
118,800 at 7.51%$831.48
118,800 at 7.52%$832.29
118,800 at 7.53%$833.11
118,800 at 7.54%$833.92
118,800 at 7.55%$834.74
118,800 at 7.56%$835.55
118,800 at 7.57%$836.37
118,800 at 7.58%$837.18
118,800 at 7.59%$838.00
118,800 at 7.6%$838.82
118,800 at 7.61%$839.63
118,800 at 7.62%$840.45
118,800 at 7.63%$841.27
118,800 at 7.64%$842.09
118,800 at 7.65%$842.90
118,800 at 7.66%$843.72
118,800 at 7.67%$844.54
118,800 at 7.68%$845.36
118,800 at 7.69%$846.18
118,800 at 7.7%$847.00
118,800 at 7.71%$847.82
118,800 at 7.72%$848.64
118,800 at 7.73%$849.46
118,800 at 7.74%$850.28
118,800 at 7.75%$851.10
118,800 at 7.76%$851.92
118,800 at 7.77%$852.74
118,800 at 7.78%$853.56
118,800 at 7.79%$854.38
118,800 at 7.8%$855.21
118,800 at 7.81%$856.03
118,800 at 7.82%$856.85
118,800 at 7.83%$857.67
118,800 at 7.84%$858.50
118,800 at 7.85%$859.32
118,800 at 7.86%$860.15
118,800 at 7.87%$860.97
118,800 at 7.88%$861.79
118,800 at 7.89%$862.62
118,800 at 7.9%$863.44
118,800 at 7.91%$864.27
118,800 at 7.92%$865.10
118,800 at 7.93%$865.92
118,800 at 7.94%$866.75
118,800 at 7.95%$867.57
118,800 at 7.96%$868.40
118,800 at 7.97%$869.23
118,800 at 7.98%$870.06
118,800 at 7.99%$870.88
118,800 at 8%$871.71
More Amounts
What is the down payment for a $118,800 house? How much do you need to put down?
Percent Down Down Payment
1%1,188
2%2,376
3%3,564
4%4,752
5%5,940
6%7,128
7%8,316
8%9,504
9%10,692
10%11,880
11%13,068
12%14,256
13%15,444
14%16,632
15%17,820
16%19,008
17%20,196
18%21,384
19%22,572
20%23,760
Percent Down Down Payment
21%24,948
22%26,136
23%27,324
24%28,512
25%29,700
26%30,888
27%32,076
28%33,264
29%34,452
30%35,640
31%36,828
32%38,016
33%39,204
34%40,392
35%41,580
36%42,768
37%43,956
38%45,144
39%46,332
40%47,520
Percent Down Down Payment
41%48,708
42%49,896
43%51,084
44%52,272
45%53,460
46%54,648
47%55,836
48%57,024
49%58,212
50%59,400
51%60,588
52%61,776
53%62,964
54%64,152
55%65,340
56%66,528
57%67,716
58%68,904
59%70,092
60%71,280
Percent Down Down Payment
61%72,468
62%73,656
63%74,844
64%76,032
65%77,220
66%78,408
67%79,596
68%80,784
69%81,972
70%83,160
71%84,348
72%85,536
73%86,724
74%87,912
75%89,100
76%90,288
77%91,476
78%92,664
79%93,852
80%95,040
Percent Down Down Payment
81%96,228
82%97,416
83%98,604
84%99,792
85%100,980
86%102,168
87%103,356
88%104,544
89%105,732
90%106,920
91%108,108
92%109,296
93%110,484
94%111,672
95%112,860
96%114,048
97%115,236
98%116,424
99%117,612
100%118,800
Common Loan Vocabulary Terms
APR Annual Percentage Rate, the annual cost of borrowing or lending money.
PMI Private Mortgage Insurance. A downpayment less than 20% often requires that the borrower purchase PMI. This increases the overall monthly payment.
Property Taxes Taxes charged by the local government to the owner of the property. This is often charged as a percentage of the assessed value of the property.
Insurance Home insurance protects your property against damage. Flood insurance is often recommended for some areas of the country. Individuals with a high net worth might consider an umbrella policy.
HOA Homeowners' Association. Usually part of a condo development or subdivision. The HOA often sets the rules, takes care of common maintenance, and charges a fee.
Mortgage Refinance After mortgage rates have decreased, it is often possible to get a new mortgage at a lower rate. This is a loan refinance and can save lots of money.